Analysts Set Lucid Group, Inc. (NASDAQ:LCID) PT at $2.69

Lucid Group, Inc. (NASDAQ:LCID - Get Free Report) has received a consensus recommendation of "Reduce" from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $2.69.

A number of brokerages recently commented on LCID. Royal Bank of Canada lowered their price objective on shares of Lucid Group from $3.00 to $2.00 and set a "sector perform" rating on the stock in a research note on Tuesday, November 19th. Cantor Fitzgerald reissued a "neutral" rating and issued a $3.00 price objective on shares of Lucid Group in a research note on Wednesday, February 26th. Cowen began coverage on shares of Lucid Group in a research note on Thursday, March 6th. They set a "hold" rating on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Lucid Group in a research note on Wednesday, February 26th. Finally, Benchmark reaffirmed a "buy" rating and set a $5.00 price target on shares of Lucid Group in a research note on Friday, March 7th.

Lucid Group Stock Performance

NASDAQ:LCID opened at $2.09 on Friday. The company has a quick ratio of 3.26, a current ratio of 3.71 and a debt-to-equity ratio of 0.77. Lucid Group has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The stock has a market cap of $6.34 billion, a PE ratio of -1.56 and a beta of 0.97. The firm's fifty day simple moving average is $2.81 and its 200-day simple moving average is $2.89.

Institutional Investors Weigh In On Lucid Group

Hedge funds have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of Lucid Group in the fourth quarter worth approximately $28,000. Accredited Investors Inc. acquired a new stake in shares of Lucid Group in the fourth quarter worth approximately $30,000. Proficio Capital Partners LLC acquired a new stake in shares of Lucid Group in the fourth quarter worth approximately $31,000. DRW Securities LLC acquired a new position in Lucid Group during the fourth quarter valued at approximately $31,000. Finally, First National Corp MA ADV acquired a new position in Lucid Group during the fourth quarter valued at approximately $32,000. 75.17% of the stock is owned by institutional investors and hedge funds.

Lucid Group Company Profile

Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.

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